Are you HUNGRY ENOUGH to Succeed in Trading?

As I continue my journey to explore the different coaching and motivation techniques, I learn more about how they help traders succeed and how they relate to trading psychology. At the same time, I also realised that the fundamentals of success is nearly the same irrespective of the field of your pursue. In other words, in pursuing your career, your relationship, your finances, your health or any specific goals, the route to success can be nearly the same.

While I can talk endlessly about these topics, today’s article is for Traders and any one who is hungry to succeed in trading.

If you happen to have read my coaching page (if it’s not there any more, then it’s a previous version of it), the FIRST thing I get you to establish before you take any action is this:

How badly do you WANT TO SUCCEED in trading?

In other words, how HUNGRY are you to become a successful trader? Is this what you really want? And do you consider trading to be a life-changing tool?

This question is far more important than you would realise. You know why?

I’ll tell you in a minute, but before I get there, let me share something else that is absolutely relevant.

How Hungry Are You Really?

You see, lots of people talk about trading and they talk about how much they want to succeed in trading. However, they talk about it with no/little action to substantiate what they say.

Have you met, heard or gotten in touch with such people before?

I’m sure you have. But if you have not, you don’t have to go far. Because I used to be one of them.

When I left London to relocate back to Asia a few years ago, the first thing I did when I relocated was to declare to everyone that I want to become a successful trader. In fact, I told everyone that I want to set up my own trading fund (which I thought was a worth declaration).

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Sadly, many many months later… and still nothing (as I write this article, I have finally already set up my managed trading account and waiting to publish my results).

You know why?

I didn’t know why initially but one thing for certain was that I was constantly trying to find ways to improve my trading, trying to find a better trading system and trying to find the best broker… Essentially, I was trying to find EVERY EXCUSE possible to support why I should not start my trading fund.

Isn’t it ironic? I could not understand what was happening at all as I was not doing what I declared. I thought if I told the world about it, I have committed to making it work.

Frustrating? H*ll Yeah!!

Does that sound familiar to some of you? If yes, then pay attention to what I’m about to share. If you were like me, then, it’s pretty clear that you are not as HUNGRY as you should be.

Hunger is Obvious

Have you seen a lion that has not eaten for a few days? You know you don’t want to mess with it. If you don’t believe me, go try.

Whether you’ve seen a hungry lion or not, I think it’s pretty clear that you know when you are hungry (to become successful). Many people say they do, but they really don’t. Because when you do, you just know it – just like when you see a hungry lion.

And if you really want to know what I mean, go read “Think and Grow Rich” by Napolean Hill. An amazing read. Or go watch the movie “The Pursuit of Happyness” by Will Smith (who happened to be an inspiring individual) and you’ll understand the meaning of being hungry for success. Chris Gardner is an inspiring person and the movie is a great reminder to everyone that everything is possible. As shown in the movie, the real hunger was illustrated when one is left with nothing – no home and no food to eat.

My point is this, if you really want to know if you are hungry for success, take a few moments to think and feel what I’m asking here. Are you REALLY hungry? If you are not, then that might be one of the reasons that is holding you back and your excuses are not exhausted yet.

Hunger is Important Because…

So, back to my initial question,

How badly do you WANT TO SUCCEED in trading?

The reason why you need to be hungry is because this is one of the biggest reasons to push you forward towards your goals. If you are truly hungry, you would do ANYTHING to make it work – No IFs, no BUTs and no more excuses.

In the past, I’ve explained the two motivation theories to succeed, while these two theories are absolutely relevant, being hungry is to have the right reasons to get your motivation strong (irrespective of the theories mentioned). Similarly, remember my article on Trading Changes? One needs to be inspired or desperate to change, the same applies here.

And when you know you want to succeed very badly, ask this:

Are you hungry ENOUGH?

In other words, when you are hungry enough, it does not matter if you are moving away from pain or moving towards your goals, the key thing is that you are MOVING.

You know what I mean?

Hunger is from Within

So where can you find hunger?

Well, I kind of gave the answer away already. People are hungry because of personal reasons – whatever they may be. The only common denominator amongst the people I’ve spoken to (or have read about) is that the hunger comes from within themselves. While you can find external factors to justify your reasons, it can only come from within because, more often than not, you need to have the FEELING of hungriness.

Yes, it is a type of feeling and it is derived from your emotions.

Sounds familiar again?

Many traders fail-to-pull-trigger or over-trade because of fear, greed or over-confidence. All of them are a type of feeling. Whatever the feeling may be, the result is still true that Feelings lead to Action.

And there are also subtle feelings (which leads to doubts) and strong feelings (which leads to phobias). It’s a big subject and that’s really for another day.

So What Should You Do Today to be Hungry?

For now, what do you need to do or know to find the hunger within yourself? As mention above, go search inside yourself and go look for your goals. If you already have goals, then make them very CLEAR.

Inner peace would be my suggestion. While there is no right or wrong answer, I think inner peace would be a good start.

I’m a big advocate of taking time out and I recommend doing that through my 30 day program. Why? Because you can work on your goals and more.

A part from that, be curious about yourself and be open to new ideas. If you think a meditational program is good, do let me know as well. Happy to create one if there’s a real demand.

Anyway, that’s all for today. Be hungry and trade for success. Chat soon!